ARTI's Home Inspector Blog (610)220-1907: Berks County Sheriff's Sales- What's Next?

Berks County Sheriff's Sales- What's Next?

Berks County Sheriff's Sales- What's Next?

Berks County Sheriff's Sales are on the 2nd Friday of every month.  

 

Once you are the lucky bidder on a property and have purchased it, what's next?  You might need a Home Inspection.  If you do not want a full Home Inspection, David Artigliere with ARTI Home Inspections LLC is one of the few inspectors in the area that will offer Hourly Consulting if you just need a few Home Inspector on a ladderthings looked at.  Perhaps you are concerned about the roof or a large crack or need a professional opinion on what things might cost to repair or replace in the property.  He also provides 203K Consulting, Wood-Infestation Inspections and Environmental Testing.  He doesn't do any repair work, so his inspections are completely unbiased and not fueled by trying to secure a rehab job with you.

 

 

 

If you don't own a property yet and are completely new to Berks County Sheriff's Sales, there are things you should know.  Here is some Basic Bidding Information for Mortgage Foreclosure Properties directly from Berks County Sheriff's Sale website:
 
1. You will be bidding against the bank.
 
2. The bank has a predetermined amount that they will bid to.   This is called the "upset price". Only the bank, on day of sale, knows what this amount will be.   It may be more or less than the judgment amount.
 
dollar bill

3. If you are the successful bidder, 10% of the judgment is due at time of sale cash or certified funds only.  The balance (of your bid) is due within 10 days.  If the balance is not paid within those 10 days you lose your down payment.   The deed will be recorded in 45 days.


4. You will not have the deed in time to use that property for a mortgage.  (Therefore you cannot be pre-approved for a mortgage).  The properties are not guaranteed in anyway and debts against that property may become yours.  It is for this reason we suggest a title search be done on any property you may be interested in.
 
5. The properties are owned by the debtors until they are sold on day of sale.  They are not open for public viewing.

 

Berks County Sheriff's Sales are located at the Berks County courhouse at 633 Court Street in Reading, PA in the 2nd floor auditorium at 10am.  The next Sheriff's Sale is Friday, March 11, 2011.

 



View Larger Map

David Artigliere with ARTI Home Inspections LLC is a ASHI Certified Home Inspector serving clients 7 Days a week all over the Reading, PA area including Shillington, Exeter, Sinking Spring, Wernersville & Surrounding.  Call (610) 779-1163 to book your next inspection or visit his website at www.readinghomeinspector.com

david the home inspectorDavid Artigliere, owner of ARTI Home Inspections LLC, is a home inspector in Pottstown, Reading, Norristown, Royersford and surrounding areas. 

He is available 7 days a week and can be reached at 610-220-1907.

Comment balloon 2 commentsDavid Artigliere • March 07 2011 09:11AM

Comments

How do you know the judgement? Do you have to pay the down and bid?

Posted by Sara Lopez-Rivera over 1 year ago

Hi Sara,  you can do the research right at the courthouse!  When I was a newbie, I just went into the Sheriff's office and told them it was my first time and they told me where to go, what computers to use, and some other useful information.  You can estimate what the upset price is based on what's outstanding in the file (and add on for some legal fees).  You have to bring enough cash as a down payment (10% that day) and get the rest of the money in 10 days.

Posted by David Artigliere, ARTI Home Inspections, ASHI Certified Home Inspect (Reading, Pottstown, Norristown, Philadelphia) over 1 year ago

Participate